The Motor & Equipment Manufacturers Association (MEMA) announced Tuesday results of a new independent research study that shows automotive and commercial vehicle suppliers directly employed 907,000 workers in the United States in 2019.
MEMA says this means the vehicle supplier industry continues to be the largest manufacturing sector in the United States. With direct, indirect and induced employment, the vehicle supplier industry generated a total of 4.8 million U.S. jobs in 2019. The total economic impact of employment in the industry reached 2.5 percent of U.S. GDP.
The study was conducted by IHS Markit and commissioned by the Motor & Equipment Manufacturers Association (MEMA).
“The numbers from this study illustrate the valuable economic contribution of the vehicle supplier industry,” says MEMA President and CEO Bill Long. “Vehicle suppliers are a source of measurable job growth. In addition to remaining the largest manufacturing sector in the U.S, the industry increased direct employment by more than 6 percent since 2015.”
According to the study, the average 2019 U.S. wage for direct vehicle supplier jobs reached $80,300 — exceeding the average wage of all U.S. manufacturing sectors.
“These are high-tech, well-paying jobs. Policies that support the vehicle supplier industry will drive further economic growth in our country,” says Long.
MEMA notes IHS Markit conducted the study for MEMA in 2020, utilizing full-year 2019 labor and economic analysis. As a multi-discipline effort between the Automotive and Economics and Country Risk teams at IHS Markit, the research built upon studies in 2012 and 2015 to determine the impact of vehicle supplier employment in the U.S., the company says.
To access the report, please CLICK HERE.